U.S. middle-class incomes reached highest-ever level in 2016, Census Bureau says

TexTex Posts: 197 Bronze ✭✭✭
https://www.washingtonpost.com/business/economy/us-middle-class-incomes-reached-highest-ever-level-in-2016-census-bureau-says/2017/09/12/7226905e-97de-11e7-b569-3360011663b4_story.html?deferJs=true&outputType=default-article&utm_term=.91dc50d64e1c

What a joke. Though nominally the article looks correct. When fact checked to reality & inflation is calculated, the median income would have to be around $86,000 to be equal to the median income in 1999 of $58,000.

If people were being paid in gold, the median income in 1999 was just over 202 oz of gold. Today that 202 ounces would be worth over $292,000

Comments

  • RocketDogRocketDog Posts: 450 Bronze ✭✭✭
    @Tex agreed. I recently did a calculation for 1986. Back in 1986 we thought $50,000 was what you wanted to make to be a upper middle class professional -- like an engineer. Today, you'd have to be making in the upper $90,000's to earn the equivalent of $50k in 1986. Today's $85,000 equals only $40,000 in 1986. I have friends who are only earning in the $30k - $40k range. They think $80k is a lot of money. But it isn't. You have to be making over $150k to be considered upper class. Americans have been strapped for cash for so long, I think they just get used to working frantically and constantly to pay their bills. And the lower class earners are hating the middle class for their "fat $60 - 80k" and it's just a joke.
  • ReallylikecryptoReallylikecrypto Posts: 30 Tin ✭
    My neighbors have been working in the same line of work for 20+years. Pay increases over the years have been swallowed up by the rising costs. So they feel like they are in the same boat that they started their voyage in.
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